MIRA
INFORM REPORT
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Report Date : |
30.10.2006 |
IDENTIFICATION
DETAILS
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Name : |
DEV
EXPORTS & IMPORTS |
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Registered Office : |
A-38, Pal Mohan Plaza, 11/56 D B Gupta Road, Karol Bagh, New Delhi 110 005 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1999 |
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IEC No.: |
0503070408 dated 27.01.2004 |
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PAN No.: [Permanent
Account No.] |
AFRPP 2678D |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Marble Tiles &
Slabs, Granites |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
10000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is an established concern having satisfactory track. Trade relations are
fair. General financial position is satisfactory. Payments are reported as
correct and as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
A-38, Pal Mohan Plaza, 11/56 D B Gupta Road, Karol Bagh, New Delhi 110 005 |
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Tel. No.: |
91-11-4254 2238, 42542239 |
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Mobile No.: |
91-98103 12058 |
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Fax No.: |
91-11-42542239 |
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E-Mail : |
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Website : |
http://www.stargalaxygranite.com,
http://www.devexportsandimports.com |
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Area : |
700 Sq. ft. approx |
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Location : |
Rented |
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Overseas Office |
Mari Bugadze, 14 Arnold Chikobava Street,
Tbilisi, Georgia Tel. No. 99-593-330971 Fax. No. 99-593-462947 Israel Ilan Bershadski, 8/4 Hahida, Sderot, ISRAEL Tel. No. 972-54-5862340 China Mr Nimit Sharma, 41 Talat Charoun Raat, Wong Wein
Yai, China Tel. No. 66-97888401 |
SOLE PROPRIETOR
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Name : |
Mr.
Darpan Prasher |
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Designation : |
Proprietor
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Address : |
C-80A, Third Floor, Moti Nagar, New Delhi 110 015 |
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Date of Birth/Age : |
33
Years |
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Qualification : |
BE
(Electrical Engineering) |
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Experience : |
8
Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Marble Tiles &
Slabs, Granites |
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Products : |
v
Imperial Red Granite v
Kashmir White Granite v
Black Galaxy Granite v
Granite Slabs v
Granite Tiles v
Marble Slabs v
Marble Tiles v
Marble Cut to Size v
Fireplaces v
Flower Vases v
Handcrafted Statues v
Animal Figures and Sculptures |
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Exports to : |
Georgia, Turkey, Bulgaria, Denmark, Philippines,
China and Israel |
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Imports from : |
Tamil Nadu, Andhra Pradesh, Karnataka |
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Terms : |
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Selling : |
50% Advance Payment and remaining payment after
shipment of the material |
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Purchasing : |
On Cash Against Delivery & Advance Payment |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
Around ‘8’ (Head Office: ‘5’ Branch: ‘3’) |
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Bankers : |
v
Oriental Bank of Commerce, Janak Puri Branch, New
Delhi 110 058 v
Hongkong Shanghai Banking Corporation, Connaught
Place, New Delhi 110 001 v ICICI Bank Limited, Rajendra Nagar, New Delhi 110 060 |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory
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Auditors : |
M/s Mahajan & Gandhi Associates Chartered Accountants |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
0.700 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
0.700 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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8.500 |
5.500 |
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Profit/(Loss)
Before Tax |
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0.179 |
0.110 |
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Provision
for Taxation |
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0.029 |
0.014 |
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Profit/(Loss)
After Tax |
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0.150 |
0.096 |
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Export Value |
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8.500 |
5.500 |
The
Projected Turnover for the financial year ending 31.03.2007 shall be to the
tune of Rs.12.500 Millions approx as claimed by the subject
KEY
RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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1.76 |
1.75 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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2.10 |
2.00 |
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Return
on Investment (ROI) (PBT/Networth) |
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21.43 |
17.50 |
LOCAL AGENCY
FURTHER INFORMATION
Business dealings are permissible. The subject is a manufacturer and exporter of Marble Tiles & Slabs, Granites. The subject is manufacturing these products to third party from the domestic market in the States of Tamil Nadu, Andhra Pradesh and Karnataka. Mr. Darpan Prasher (Age: 33 Years), Proprietor and Chief Executive Officer is a professionally qualified Electrical Engineer. The subject personally ensures the quality of the products and mainly exports to Georgia, Turkey, Bulgaria, Denmark, Philippines, China and Israel. The subject is also having its Branch Offices at Georgia, China and Israel. The subject is a100% Export Oriented Unit and they are selling their products 50% advance by TT and remaining after shipment.
The inquired address is the subject’s office
address and it is situated at prime commercial location
Marble is the pride of India, with
practically inexhaustible deposits of over 1200 million tons, with splendid
varieties of white, green, black, grey, pink, and yellow. The quality in terms
of its physical and mechanical properties complies with all international
standards. India also ranks among the top 5 countries in marble exports.
The country boasts of about 1,100 modern
gangsaw units and 50 automatic tilting plants. More than 5000 trading companies
of marble are operational, employing about Rs. 0.300 million people. The
industry is well equipped with fast developing moderne mechanised quarries.
Over 300 quarries are currently using diamond wiresaw & chainsaw cutter
quarrying technology.
Size of the
Industry
The marble industry in India is a vibrant
industry with a total investment of over Rs. 40,000 million or US$ 1,000
Million and covers about 4000 mines. The size of this industry is eestimated at
around Rs. 1,600 million. The marble slab and tile production is approximately
equal to 1300 million-sq. ft. per annum.
Marble Export
The export mainly consists of the much
fascinating varieties of Green, Onyx, White, Indo-Italian, Super White and Pink
marble. High quality polished marble tiles & slabs and green, black &
white marble blocks correspond to the demand in the foreign market. There is
also a high export demand for marble handicrafts.
The major export markets for Indian marble
are USA, Canada, Japan, Singapore, Middle - East and EC countries.
Major marble centres in India:
Marble reserves in India are estimated at
1200 million tons with Rajasthan accounting for 91% of the reserves (with more
than 1100 million tons). Rajasthan accounts for 95 % of the marble production
in India. Splendid varieties of marble are spread all over Rajasthan, mainly in
the districts of Nagaur, Udaipur, Rajsamand, Banswara, Dungarpur, Jaipur, Sirohi,
Bhilwara, Ajmer, Bundi, Alwar and Pali. There are about 3658 marble mining
leases with a production of 3.44 million tons in 1997-1998. There are 1,100
marble processing units and 50 automatic tiling plants employing about 3,00,000
people in Rajasthan. Rajasthan
has a marble slab processing capacity of 1,000 million
sq.ft. per annum and marble tiling capacity of 300 million sq. ft. per annum
Profile
They are exporting to Turkey,Bulgaria,Slovakia,Israel,Georgia and Phillipines.
Dev Exports and Imports incepted in 1999,
manufacturers and exporters of marble slabs, granite slabs and handicrafts made
of marble and granite across the globe. They are proudly associated in the
preservation of rich Indian handicrafts through manufacturing exquisite
products of timeless beauty. Their experience of five years in the industry has
given us the ample amount of knowledge about the customers needs and wants.
They always strive to provide their customers superior quality products and
world class customer service. Their range of exquisite products is value for
money and the best in the world.
Products
Their products marble slabs and granite polished slabs have emerged as a style and fashion statement over the years. They have contributed their bit to this quest for perfection by creating artifacts that adds niche value to the user. In terms of utility and finesse their products are unbeatable. Their range of products includes:
v Marble Slabs
v Granite Slabs
v Granite and Marble Handicrafts - Their range of granite and marble artifact includes :
v Fireplaces
v Flower Vases
v Hancrafted Statues
v Animal Figures And Sculptures.
Granite
polished slabs are available in the following colors
v Absolute Black
v Black Galax
v Imperial Red
v Colombo Juparna
v Green Pearl
v Tropical Green
v Himalaya Blue
v Tan Brown
v Polished
v Red Multi Colour
v Kashmir White
v Kashmir Gold
v Cat's Eye
v Lady Dream
v Ghibli
v Indian Juparna
v Madurai Gold
v Vyara Gold
v Vizag Blue
v IColombo Juparna
v Hassan Green
v Tiger Skin
v Steel Grey
v Paradiso
Profile
Dev Exports and Imports incepted in 1999,
manufacturers and exporters of marble slabs, granite slabs and handicrafts made
of marble and granite across the globe. They are proudly associated in the
preservation of rich Indian handicrafts through manufacturing exquisite
products of timeless beauty. Their experience of five years in the industry has
given us the ample amount of knowledge about the customers needs and wants.
They always strive to provide their customers superior quality products and
world class customer service. Their range of exquisite products is value for
money and the best in the world.
Quality
Quality is not a relative factor for us as they have helped in
establishing the quality standards of this industry. To manufacture top quality
products and to deliver them as per schedule has always been their focus. They
feel proud to state that, they have always been successful in their endeavor.
They have a very gifted artisan talent pool, which guarantees timely deliveries
of high quality handicrafts.
Infrastructure
Their state of the art infrastructure is well equipped with talented bunch of artisans and hi-tech machinery. To produce top quality products and to deliver them as per schedule has always been their focus. They feel proud to state that, they have always been successful in their endeavor.
Clients
They have a wide spread client base owing to their commitment towards quality and excellence. They have been a forerunner in the domestic market and left a great impression in the international arena as well.
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US
Dollar |
1 |
Rs.44.93 |
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UK
Pound |
1 |
Rs.85.71 |
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Euro |
1 |
Rs.57.34 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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